Zurcher Kantonalbank Zurich Cantonalbank Raises Holdings in Centene Co. (NYSE:CNC)

Zurcher Kantonalbank Zurich Cantonalbank grew its position in shares of Centene Co. (NYSE:CNC) by 19.8% during the fourth quarter, Holdings Channel reports. The institutional investor owned 676,274 shares of the company’s stock after purchasing an additional 111,734 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Centene were worth $50,186,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also recently made changes to their positions in the company. Sandy Spring Bank lifted its stake in shares of Centene by 10.1% in the 4th quarter. Sandy Spring Bank now owns 1,629 shares of the company’s stock valued at $121,000 after purchasing an additional 150 shares during the period. Signaturefd LLC increased its position in Centene by 1.5% during the 3rd quarter. Signaturefd LLC now owns 10,456 shares of the company’s stock valued at $720,000 after buying an additional 158 shares in the last quarter. First Bank & Trust increased its position in Centene by 4.1% during the 4th quarter. First Bank & Trust now owns 4,154 shares of the company’s stock valued at $308,000 after buying an additional 162 shares in the last quarter. Blue Trust Inc. increased its position in Centene by 7.2% during the 4th quarter. Blue Trust Inc. now owns 2,454 shares of the company’s stock valued at $169,000 after buying an additional 164 shares in the last quarter. Finally, Covestor Ltd increased its position in Centene by 24.1% during the 1st quarter. Covestor Ltd now owns 856 shares of the company’s stock valued at $72,000 after buying an additional 166 shares in the last quarter. Hedge funds and other institutional investors own 93.63% of the company’s stock.

Centene Price Performance

NYSE CNC opened at $72.26 on Wednesday. The company has a market capitalization of $38.65 billion, a PE ratio of 14.72, a price-to-earnings-growth ratio of 0.90 and a beta of 0.38. The company has a debt-to-equity ratio of 0.68, a quick ratio of 1.11 and a current ratio of 1.11. The business’s fifty day moving average is $76.72 and its 200 day moving average is $74.55. Centene Co. has a fifty-two week low of $60.83 and a fifty-two week high of $81.42.

Centene (NYSE:CNC) last announced its quarterly earnings data on Tuesday, February 6th. The company reported $0.45 EPS for the quarter, beating the consensus estimate of $0.43 by $0.02. Centene had a return on equity of 14.26% and a net margin of 1.75%. The business had revenue of $39.46 billion for the quarter, compared to the consensus estimate of $36.16 billion. During the same period in the previous year, the business earned $0.86 earnings per share. The business’s revenue was up 11.0% on a year-over-year basis. Sell-side analysts predict that Centene Co. will post 6.75 earnings per share for the current year.

Insider Activity

In related news, Director Lori Jean Robinson sold 10,000 shares of the business’s stock in a transaction dated Tuesday, February 13th. The stock was sold at an average price of $77.41, for a total value of $774,100.00. Following the sale, the director now directly owns 11,455 shares in the company, valued at $886,731.55. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other Centene news, President Kenneth J. Fasola sold 12,000 shares of the business’s stock in a transaction that occurred on Wednesday, February 7th. The stock was sold at an average price of $75.07, for a total transaction of $900,840.00. Following the sale, the president now directly owns 235,365 shares of the company’s stock, valued at $17,668,850.55. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Lori Jean Robinson sold 10,000 shares of the business’s stock in a transaction that occurred on Tuesday, February 13th. The stock was sold at an average price of $77.41, for a total value of $774,100.00. Following the sale, the director now directly owns 11,455 shares in the company, valued at $886,731.55. The disclosure for this sale can be found here. Company insiders own 0.29% of the company’s stock.

Wall Street Analyst Weigh In

CNC has been the subject of a number of analyst reports. Truist Financial raised their price objective on Centene from $83.00 to $86.00 and gave the company a “buy” rating in a research report on Thursday, December 21st. UBS Group lifted their target price on Centene from $72.00 to $79.00 and gave the stock a “neutral” rating in a report on Thursday, December 21st. Wells Fargo & Company lifted their target price on Centene from $89.00 to $93.00 and gave the stock an “overweight” rating in a report on Monday. Stephens reissued an “equal weight” rating and issued a $85.00 target price (down previously from $92.00) on shares of Centene in a report on Thursday, March 21st. Finally, StockNews.com lowered Centene from a “strong-buy” rating to a “buy” rating in a report on Thursday, March 28th. Five equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $85.38.

Centene Profile

Centene Corporation operates as a healthcare enterprise that provides programs and services to under-insured and uninsured families, commercial organizations, and military families in the United States. The company operates through Medicaid, Medicare, Commercial, and Other segments. The Medicaid segment offers health plan coverage, including medicaid expansion, aged, blind, disabled, children's health insurance program, foster care, medicare-medicaid plans, long-term services and support.